HSBC is implementing cost-cutting measures, including limiting hiring and reducing travel expenses for bankers. This move comes as outgoing CEO Noel Quinn aims to curb costs. The bank's actions are part of a broader trend among global investment banks, which are retreating from expansion in China and cutting jobs in the region. Additionally, China Construction Bank has cut salaries for headquarters staff by at least 10%, sources say, reflecting financial pressures within the industry. HSBC's cost-cutting measures were reported by Bloomberg and involve the ticker symbol $HSBA.